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Ocean Tomo sells patent deal business for $10 million

Emma Barraclough, London

Ocean Tomo has sold its transactions division, which includes the Intellectual Property Live Auction venue, a private sale brokerage unit, the Patent Bid/Ask Platform and the so-called Deans List

It has been bought by interdealer broker and provider of post trade services ICAP for $10 million.

The deal, which closed yesterday and was announced today, will see ICAP pay Ocean Tomo $5 million in cash and $5 million of...

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